CORESTATE Capital Holding S.A. has acquired two buildings with 114 residential and three gastronomic commercial units in Kiel's new development quarter ‘Am alten Bootshafen' for the special AIF ‘Residential Germany Fund II.' The institutional fund focuses on new construction projects in metropolitan regions and prospering cities in Germany, with a large portion of the portfolio featuring climate-friendly construction in accordance with the KfW55 standard. The total investment volume of the special AIF, which was initiated by Corestate for a large German pension fund, is over EUR 320 million.

The properties with their high location and residential quality are currently being intensively marketed and the first residential tenants will move in within the next few days. The ‘Am alten Bootshafen' quarter was developed by Ten Brinke Group B.V. and is located in a prime inner city location. It is considered an important urban development element for the new centre of Kiel.

The inner-city location is characterised by the local supply possibilities, the immediate proximity to the shopping mile ‘Holstenstraße' as well as to Kiel's main railway station and the very good connection of the property to the public transport system. The two building sections offer six and seven full storeys respectively with 9,680 m² of residential and 784 m² of commercial space as well as an underground car park with 44 parking spaces. The flats are partly barrier-free, have 33 to 160 m² with up to six rooms and serve a wide range of tenants.